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CME lean hogs settled near their lowest since late March 2013 as weaker cash prices and pre-holiday plant shutdowns weighed. Midwest cash hogs were steady to 50 cents lower, and the USDA estimated slaughter at 40,000 head the prior Saturday.
Live cattle closed lower for the first time in five sessions on profit taking.
Weak cash hog prices and sluggish pork demand point to lower hog values and reduced hog feed demand, while cattle profit taking eases the recent rally.
country-guide.caTheopolis WatersJul 28, 2016Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Weaker cash prices and pre-holiday plant shutdowns pushed futures lower, with the cash-futures link adding to the decline.
